General Motors Still Losing $ (Despite DNC Propaganda)

[Joy in Mudville]

Oh Look... here is your flailing about subject..........

How many others are there that bought at 53.....

None, only the government needs it to go to 53 to recover the money they spent.....

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

http://www.forbes.com/sites/louiswoo...kruptcy-again/

You realize that those hundreds of thousands of people working at GM and it's suppliers pay taxes don't you?

You realize that had GM gone under those hundreds of thousands of people would have been collecting unemployment, food stamps, and medicaid don't you?

Of you don't.

On the other hand, do you always sell low? How's that been working for you?

[Retired Ramp Guy]

You realize that those hundreds of thousands of people working at GM and it's suppliers pay taxes don't you?

You realize that had GM gone under those hundreds of thousands of people would have been collecting unemployment, food stamps, and medicaid don't you?

Of you don't.

On the other hand, do you always sell low? How's that been working for you?

Nope, never sold for lower that I bought...... but in full discloser I'm under water by 600 & change on LQMT.

[Omaha Beach]

You realize that those hundreds of thousands of people working at GM and it's suppliers pay taxes don't you?

You realize that had GM gone under those hundreds of thousands of people would have been collecting unemployment, food stamps, and medicaid don't you?

Of you don't.

On the other hand, do you always sell low? How's that been working for you?

Or just maybe GM could have reorganized under Bankruptcy like some airlines did and negotiate a new contract with the UAW in line with what automakers in nonunion right to work States pay their workers and the taxpayers would not be on the hook for bailing out GM, aka the UAW.

[Eastside Terp]

all companies would look like they were making money if all they had to show were revenues and all their costs and debts were being covered by the taxpayers .....

[slapshot]

all companies would look like they were making money if all they had to show were revenues and all their costs and debts were being covered by the taxpayers .....

Lie/exaggeration.

Not "all costs and depts were covered by the taxpayers". Not even close.

Another gross exaggeration from the extreme right. Get your facts Right before you post again.

[Eastside Terp]

Lie/exaggeration.

Not "all costs and depts were covered by the taxpayers". Not even close.

Another gross exaggeration from the extreme right. Get your facts Right before you post again.

when you learn the difference between average and median come back and we can talk finance ......

[slapshot]

when you learn the difference between average and median come back and we can talk finance ......

When you learn not to lie, you might actually be taken seriously.

Get your facts straight.

Not all of GM's dept and costs, in fact, far less than half, are covered by US taxpayers.

[cprenegade]

Or just maybe GM could have reorganized under Bankruptcy like some airlines did and negotiate a new contract with the UAW in line with what automakers in nonunion right to work States pay their workers and the taxpayers would not be on the hook for bailing out GM, aka the UAW.

That is likely what would have happened. GM was not simply going to close all of it's doors and have a going out of business sale. They would have re-organized and continued to operate, but at a better vantage point to make their business viable. Government's role is to police the playing field, and police the business practices. It is not to provide corporate welfare with taxpayer revenue to businesses that have grossly mismanaged their affairs to the point that GM had.